PROCEDURE FOR ACTION IN CASE OF VIOLATION OF REGULATIONSSecurities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008
PROCEDURE FOR ACTION IN CASE OF VIOLATION OF REGULATIONSSecurities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008
Redemption and roll-over of debt securities require special resolution, notice with credit rating, and specified conditions. Regulation 18 requires redemption per the offer document and permits roll-over only after a special resolution of holders with fifteen days' notice ... Summary
Redemption and roll-over of debt securities require special resolution, notice with credit rating, and specified conditions.
Regulation 18 requires redemption per the offer document and permits roll-over only after a special resolution of holders with fifteen days' notice disclosing credit rating and rationale; the notice must be filed with stock exchanges. Conditions for roll-over include postal ballot approval with at least 75% consent by value, a credit rating within six months disclosed in the notice, execution or continuation of a trust deed, and adequate security; non-consenting holders must be redeemed.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.